Donor-directed corpus contributions retain capital character despite exemption claims under section 10(23C)(vi), preventing their treatment as taxable...
Enhanced tax-audit threshold applies where banking records establish compliant non-cash receipts and payments, eliminating penalty exposure for audit ...
Transfer pricing consistency protects identical non-interest-bearing debenture terms from a later notional-interest adjustment without valid statutory...
Rectification of debatable deduction claims cannot reverse scrutiny-approved co-operative society interest income deductions as apparent record errors...
Cash-method accounting bars presumptive interest taxation, while unsupported securities and share-trading additions require reliable material and veri...
Vicarious criminal liability of a non-signatory director for cheque dishonour requires specific allegations that, at the relevant time, the director was both in charge of and responsible for the company's business. Directorship alone does not establish liability. A complaint must disclose the director's role in day-to-day operations or financial transactions, or facts showing consent, connivance or neglect connected with the dishonoured cheque. Where the director was neither a party to the underlying agreement nor a cheque signatory and the complaint contains only general allegations, prosecution for cheque dishonour read with vicarious liability provisions cannot continue; the complaints and process were quashed against the director.
Vicarious criminal liability of a non-signatory director for cheque dishonour requires specific allegations that, at the relevant time, the director was both in charge of and responsible for the company's business. Directorship alone does not establish liability. A complaint must disclose the director's role in day-to-day operations or financial transactions, or facts showing consent, connivance or neglect connected with the dishonoured cheque. Where the director was neither a party to the underlying agreement nor a cheque signatory and the complaint contains only general allegations, prosecution for cheque dishonour read with vicarious liability provisions cannot continue; the complaints and process were quashed against the director.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4826 
Join Channel 
